The Factors You Need to Consider When Calculating Compensation

Written By Alla Levin
August 17, 2023

You can claim compensation from the negligent party or their insurance firm if you have sustained a personal injury. Calculating the payment amount you deserve is one of the most challenging tasks.

The process of claiming compensation for a personal injury may differ in every state. Various factors can impact the value of your personal injury claim, and you need to think about them carefully before agreeing to any settlement offer.

Here are some of the factors you should keep in mind while calculating compensation in a personal injury claim:

The Factors You Need to Consider When Calculating Compensation: Medical Expenses

Medical expenses are the most crucial factor determining how much compensation you may get from a personal injury claim. Maintaining all the medical receipts and bills is essential when you decide to claim compensation. As a victim, you can claim the prize for:

  • Ongoing treatment expenses;
  • Hospital stays;
  • Prescription bills;
  • Physical Therapy;
  • Surgeries.

You can claim more compensation when your injuries are severe. In this case, you can claim disfigurement, disability, reduced life expectancy, and future treatment expenses. Usually, you can claim more non-economic damages when your injuries are more serious.

Lost income

As a victim, your injuries may prevent you from working for some days. You may lose your wages for the days you missed work. So, you can claim compensation for the total lost wages.

Pain and suffering

Pain and suffering are a type of non-economic damage. This reflects the emotional and physical impact of the injury on your quality of life. It can include factors such as anxiety, chronic pain, insomnia, depression, post-traumatic stress disorder (PTSD), and much more.

The level of pain and suffering for which you can claim compensation depends on the extent and nature of your injury, the intensity, and duration of your pain, the effect of your discomfort on your relationships and daily activities, and the period of your recovery.

Property damage expenses

When your personal injury resulted from a collision that also damaged your property, like your belongings, phone, or vehicle, you can claim compensation for the replacement or repair expense of your property.

In detail, you can claim compensation for the loss of use of your property when it is replaced or repaired. This may include any damaged personal items, such as clothing or electronic devices.

Cost of daycare and home care

After a personal injury, those expenses can be recovered if you cannot care for yourself and need to hire a home care professional. Moreover, you can claim home care expenses when family members need to take leave from work to care for you.

When your injuries leave you unable to care for your kids, you may have to pay for daycare. You can also claim compensation for daycare expenses.

Loss of Enjoyment of Life

Loss of enjoyment of life is another form of non-economic loss. Some injuries may cause permanent disabilities, and you may not do certain activities that you enjoyed in the past.

For example, if you like cycling around the city, you may be unable to do that due to your injuries. You can claim compensation for the loss of enjoyment. Your lawyer can help you determine the correct payment amount for this damage.

Calculating Compensation: Final thoughts

I hope you understand the factors that can affect the value of your personal injury claim. Every case is unique and requires a thorough estimation by an experienced personal injury attorney who can evaluate all the relevant factors and negotiate with the insurance firm on your behalf.

If you have suffered any personal injury, it is essential to contact a personal injury attorney to get fair compensation.

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